20 January 2018
   
Tsvangirai golden handshake confirmed
DisGrace sneaks out three luxury cars
ED cuts Bob Singapore crew from 38 to 22
Call for Diaspora Minister and MPs
ED so over confident it worries him
Priscilla demands coup ‘killings’ details
CBD maize roasting must end now: Min
Tsvangirai faces disgraceful exit: Judge
MORE NEWS
ZTA targets domestic tourism
SOE DEBATE: Privatise most parastatals
MORE BUSINESS
Delight as ZBC 'Iron Lady' suspended
Sulu arrested over $4,000 child support
MORE SHOWBIZ
Mapeza targets CAF CL group stages
Tendai Ndoro special - says Ajax coach
MORE SPORTS
Elections: Not a moment to be lost
A view beyond the Zimbabwe coup
MORE OPINION
 
Mnangagwa off to Davos empty handed
Economy: the need for a paradigm shift
MORE COLUMNISTS
 
 
Zimbabwe continues on deflation slide
15/01/2015 00:00:00
by AFP
 
 
RELATED STORIES

THE economy continued on a fresh slide into deflation in December as prices fell due to tight liquidity, figures from the government statistics agency on Thursday showed.

Prices decreased by an average of 0.80 percent between December last year and the same month in 2013.

"The year on year inflation rate for the month of December 2014 as measured by the all items Consumer Price Index (CPI) stood at -0.80 percent, the Zimbabwe National Statistical Agency said in a statement.

That is down marginally from -0.78 percent in November.

The country’s economy has been on a downturn for over a decade characterised by high inflation, unemployment and deteriorating living standards.

It slid into deflation in February, staying negative for five months in succession as prices fell due to a cash crunch which saw fewer buyers for goods and services.

Prices recovered marginally going in the positive from July only to fall back into deflation in November.

Finance Minister Patrick Chinamasa has lowered the growth forecast for this year from 4.1 percent to 3.2 percent.

The government, saddled with a huge debt, has been battling to pay its workers and resorted to staggering dates to pay bonuses.



Advertisement


 
Email this to a friend Printable Version Discuss This Story
Share this article:

Digg it

Del.icio.us

Reddit

Newsvine

Nowpublic

Stumbleupon

Face Book

Myspace

Fark

 
 
 
comments powered by Disqus
 
RSS NewsTicker